Seniors Housing & Healthcare Trends

LOS ANGELES: Single women post 50 are increasingly being attracted to land lease/rental resort style living.

Demand for land at the boutique release Sunbird Sanctuary at the Botanica over-50s Lifestyle Resort is strong and there are now more than 110 homes at the gated community at Caravonica.

The $90m high end retirement resort was launched in 2019, with the first residents moving in by the end of 2020, and now has 170 residents.

Home prices range from $440,000 to $840,000.

Sales manager Gavin Third said a third of residents were single women.

“They value safety and security, and not being on their own, there’s plenty of activities and events, dinners,” Mr Third said.

“Sunbird is at the southern end, where there will be a second country club and undercover bowling green.

“It’s a great opportunity to get the Burbidge home design before Easter – there’ll be a price rise after Easter because of rising construction costs,” he said.

The Burbidge home is one of about 18 styles of homes on offer.

“This is the first land lease development in Cairns and demand has been there, it’s filled a hole.”

Botanica director Robert Wallace said residents were socially and physically active and often in over-50s resorts some residents were still working.

He said over-50s resorts were also renowned for their strong, resident-led communities, creating a haven for social interactions and new friendships.

Mr Wallace said over-50s lifestyle resorts were a great option for those wishing to downsize, but not compromise on comfort or quality.

“Residents are able to enjoy a lock and leave lifestyle, meaning they can lock their house and leave on holidays or take the caravan for a trip without needing to worry about the security of their home. Botanica is a gated community with 24/7 security,” Mr Wallace said.

He added that Botanica had eliminated the deferred management fee common to most retirement villages.

Residents here owned their homes outright, keeping 100 per cent of any capital gains, while leasing the land, meaning no stamp duty or council rates.

A 2019 study by American Association of Retired Persons (AARP) found that three out of four adults aged 50 and over wanted to stay in their homes and communities as they aged, rather than a care facility.

Survey respondents said residential communities became a source of “support and engagement” as they aged.

One of the most concerning findings of the AARP report was that around 30 per cent of survey respondents said they were lacking companionship, felt left out or isolated from others.

Botanica House country club recently opened.

There’s a gym, pool, library lounge, cinema, games room, resident’s workshop and treatment rooms for activities like massages, meditation and yoga.

There are no body corporate or strata fees, no rentals, and the resort is pet friendly.